The housing in Melvin, IL is significantly lower than the national median value of $338,100. It has a median home value of $78,500. Despite that, the 1 year house appreciation rate is still fairly high at 7.34%, just below the US average of 8.27%. This indicates that housing in Melvin is becoming more valuable and is an attractive market for potential homeowners.
The median home cost in Melvin is $78,500. Home appreciation the last 10 years has been 52.8%. Home Appreciation in Melvin is up 15.4%.
Average Age of Homes
- The median age of Melvin real estate is 71 years old
The Rental Market in Melvin
- Renters make up 14.2% of the Melvin population
- 0.0% of houses and apartments in Melvin, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.